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Tech mistake |Estimates of Floyd Mayweather, Jr.’s net worth range from $700 million to nearly $1 billion as of January 2018. From 2012 through 2014, he topped the highest-paid athletes lists of both Forbes and Sports Illustrated.
His 2015 fight against Manny Pacquiao broke all previous records, grossing a reported $600 million. Mayweather, whose company Mayweather Promotions co-promoted the fight, took home at least $200 million by some estimates.
The fight was so big that when Mayweather topped Forbes’ “Celebrity 100: The World’s Highest-Paid Superstars of 2015” with 2014-2015 income of $300 million, Pacquiao came in second with $160 million.
Mayweather’s $300-million year broke Tiger Woods’s record for money made by an athlete in a single year. The golfer previously held the record when he took home $115 million in 2008. (See also: How Big Data Has Changed Sports.)
Mayweather’s Broadcasting Deal
But the windfall from the Pacquiao bout only added to Mayweather’s already impressive fortune. The massive broadcasting deal that Mayweather signed with Showtime in 2013 paid him $170 million for the four fights leading up to the Pacquiao fight. And in each of the five fights before the Showtime deal, going back to 2007, he had been paid roughly $25 million per bout. In addition, Mayweather, who goes by the nickname “Money,” earned $105 million overall for endorsing various products between June 2013 and June 2014. An additional $300 million in 2017 from the McGregor fight pushed Mayweather’s net worth close to $1 billion, by some estimates.
His 22,000-square-foot Las Vegas, Nevada mansion has five bedrooms, seven bathrooms, and features a 12-person shower, a two-screen movie theater and a garage with $15 million worth of cars, including a million-dollar Bugatti Veyron. He also owns a $6.4 million watch collection.
But potentially, the most expensive aspect of Mayweather’s lifestyle is his gambling. In addition to table games such as blackjack, he is known for making six-figure bets on a wide range of sporting events. He bet $1.1 million on an Oregon college football game in October 2012. And shortly following his big win over Pacquiao, Mayweather claimed on Instagram that he had won nearly $830,000 in one night of gambling. (See also: From Poverty To Power: Celebrities Who Started With Nothing.)
Mayweather’s Money Troubles
Despite several years of nine-figure income, Mayweather has run into occasional money problems. The IRS has come after the champion more than once. In 2009, he agreed to pay $5.6 million in back taxes, rather than have the agency withhold the amount from the purse of his fight with Juan Manuel Marquez. At the time, the IRS had filed for a $6.17 million lien against Mayweather’s property.
In 2009, JPMorgan Chase Bank sued Mayweather, claiming he defaulted on a $167,000 auto loan. It claimed Mayweather borrowed $415,695 to buy a $512,184 Mercedes Maybach 57S. The bank repossessed the vehicle in January 2009, and sold it for $196,000, and was seeking the balance from Mayweather.
In recent years, Mayweather has shown an interest in the cryptocurrency space. He has endorsed numerous ICOs; he even announced to fans that they “can call him Floyd Crypto Mayweather.”
Mayweather also has a fondness for jewelry, spending $685,000 on one shopping trip to New York City’s diamond district in February of 2015, and $500,000 on another similar trip the previous May.
His extensive jewelry collection attracted the attention of thieves not long after he’d displayed some of the items, including a medallion valued at $275,000 and a Rolex watch he said was worth $500,000 on an episode of “Cribs” in 2007. The robbers broke into Mayweather’s home and stole an estimated $7 million worth of jewelry, the biggest home burglary in Las Vegas history.
go to prison for cocaine trafficking, and advise Mayweather over the phone during his son’s stint on the 1996 Olympic boxing team. When Mayweather began his pro career, his uncle Roger trained him through his first 14 bouts, until Floyd, Sr. was released.
At that point, Floyd, Sr. took over as Mayweather’s trainer and manager. But before long, their relationship soured. Mayweather replaced his father with a new manager, then replaced him with another trainer. Eventually, the two men had a loud argument, which led to Mayweather evicting his father from the condo he owned and taking back the car he’d given him. For seven years, the men didn’t speak, except through the press, where they traded insults.
“My father is jealous of me,” Mayweather told The New York Times in 2003. ”His career never took off. He knows as a fighter he was never as good as me. In fact, he was never better than me at nothing.” (See also: How Big Data Has Changed Sports.)
At one point, the feud between father and son was so bad that Floyd Sr. offered his services as a trainer to Oscar De La Hoya when he was preparing to fight Mayweather in 2007.
But by 2012, they’d worked out their differences and Floyd Sr. replaced his brother, Roger, as Mayweather’s trainer, a post he held during the Pacquiao fight.
“I probably wouldn’t be a fighter if it wasn’t for my father,” Mayweather said. “As long as he knows I love him and I went out there and when I fought I didn’t just fight for myself, I done it for the both of us,” Mayweather said.
The article was originally published here.